Debt collector will change practices, pay Minn. $500,000

  • Article by: JENNIFER BJORHUS , Star Tribune
  • Updated: December 12, 2012 - 8:57 PM

State had accused major firm of shoddy practices in filing collection lawsuits.

  • 26
  • Comments

  • Results per page:
foreseer2Dec. 12, 12 3:28 PM

Cracking down on these unethical out of state debt collectors should be one of the first orders of business for the new legislature, now that anti-regulation Republican leadership has been replaced. With tougher laws, next time maybe the penalty will be more than pocket change for this kind of ethically challenged, but highly profitable company.

27
5
demfreedomDec. 12, 12 3:55 PM

With 15,000 lawsuits the criminal company likely got over $50,000,000. The fine should have been ten times the amount they got illegally - or $500 million, plus 10 years in prison for the entire executive staff.

35
3
HenryRhettDec. 12, 12 4:04 PM

The problem isn't poor collection laws, it's that the AG's office didn't enforce the current laws until now and the folks who regulate lawyers aren't tough enough. A generation ago there were virtually no consumer protection laws relating to debt colletion other than the federal Fair Debt Collection Practices Act, and there were very few problems in this area.

5
19
johnfrenzerDec. 12, 12 4:10 PM

Folks, you have no clue how often this and other illegal credit collection practices happen. I work in the field going after these people. It is and was a cost of doing business for them. a couple of firms about the same size have been fined 1.5 mil to almost 3 mil and it still does not stop them.

28
1
Truckman182Dec. 12, 12 4:43 PM

As a small business owner you anti-collection people have no idea how hard it is to collect from a dead beat in the State of Minnesota. It is next to impossible to collect from a debtor in this state if the debtor does not want to pay or refuses to follow along with legal requests. Where is the attorney general to help us small business owners?

9
19
mn2niceDec. 12, 12 4:58 PM

These are some of the most unscrupulous companies in the state. The only way you can make them go away is to make it so expensive for them to collect they quit the case or settle for virtually nothing. I know someone who was sued and then countersued and showed proof of the company's harassment techniques and won the countersuit.

15
1
murphydogDec. 12, 12 5:37 PM

Another good job, thanks Lori.

16
2
buskahDec. 12, 12 5:42 PM

This is criminal; why aren't these people going to jail. The AG's office needs to start prosecuting these type of people. If you make their life tough they will start obeying the law.

18
1
thisislameDec. 12, 12 5:48 PM

So people that don't pay their bills are complaining about how someone is trying to collect the money from them? It is always someone else's fault....

6
25
jimmyjames76Dec. 12, 12 6:01 PM

I know someone that was impacted by these kinds of tactics. She shared the same name as a person in collections, and that was it. Different address including city, different SSN, different drivers license number, etc. She proved that she was not the person they were looking for over and over again, but the company didn't care. They kept coming after her even though she didn't owe them a cent because they could find her, and not the actual person that owed them money. Thank god we have an elected official like Lori Swanson that actually looks out for the people. So many Minnesotans don't realize how lucky we are to have an advocate for every day people that will take action to prevent abuse from corporations like Midland Funding. Our legislators could learn something from her.

16
1

Comment on this story   |  

ADVERTISEMENT

Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT